By Gideon Maxwell
August 16, 2024
In a significant turn of event, Zhongshan Fucheng Industrial Investment Co. Ltd, a Chinese firm has released one of the presidential jets previously seized in a dispute, easing tensions as Nigeria navigates its international relationships.
This development comes as President Bola Tinubu wraps up preparations for a crucial meeting with French President Emmanuel Macron in France.
The upcoming meeting is expected to address various bilateral issues, including economic cooperation and regional security.
The release of the jet could signal progress in resolving broader disputes, potentially setting the tone for more positive outcomes in Tinubu’s diplomatic efforts.
The eyes of the international community are on this meeting, as it may influence the fate of the remaining seized aircraft and further define Nigeria’s strategic partnerships.
Zhongshan Fucheng Industrial Investment Co. Ltd., who secured a court order to confiscate three Nigerian presidential jets, said it is releasing one of the aircraft as a “gesture of goodwill.”
ALSO READ: AG, NSA launch legal bid to reclaim seized Nigerian presidential jets in France
The company spokesperson stated that they were made aware that an Airbus A330, currently detained in France, is needed for the President of Nigeria to travel to a scheduled meeting with French President Emmanuel Macron next week.
As a result, Zhongshan immediately lifted the seizure of that particular jet to allow it to be used for the President’s trip.
The spokesperson added that Zhongshan remains committed to talks with representatives of the Nigerian government to reach a reasonable compromise settlement rapidly.
However, the company did not disclose when the two remaining aircraft will be released.
The dispute originated from a 2007 agreement between Zhongshan and the Ogun State government in Nigeria to establish a free-trade zone, which was later annulled between 2015 and 2016.
In March 2021, an arbitration panel ruled in favor of Zhongshan, awarding the company $74.5 million in damages.
The Nigerian government has commenced legal and diplomatic moves to recover the seized jets, stating that they are sovereign assets used solely for sovereign purposes and are therefore immune from attachment.
The Ogun State government also faulted the judicial process that led to the provisional attachment of the aircraft and said it had begun steps to vacate the order.
